Commercial Property Insurance Spokane WA
Are you in need of a commercial property insurance policy in Spokane, Washington? In 2023, there were 9,854 small businesses in Spokane County, and without property insurance, these businesses could succumb to financial hardship if they were subjected to a fire, burglary, severe weather or extreme vandalism. At Boyd Insurance Brokerage Inc., we can help you find commercial property insurance policies with affordable premiums.
WhatsApp:+1 856-895-1549read more
Whatsapp: +39 351-093-7250read more
Quotes from 150+ Carriers
Commercial Property Insurance in Spokane, WA
Commercial property insurance protects your physical location from various financial losses. Common coverages include:
- Explosions – Let’s say that you have a piece of equipment in your shop, like an air compressor, and it explodes due to no fault by you or your employees. Your building is severely damaged, and you cannot conduct business until the building is repaired or rebuilt. Your commercial property insurance would help you pay for the damage to your building and any damaged equipment.
- Fires – If your building were to get damaged or become destroyed by a fire, your commercial property insurance would help pay for the repairs or replacement of the building and any equipment that was lost.
- Storms – Commercial property insurance may help pay for certain types of storm damage to your building. It’s important to note that flooding is not a covered type of storm damage.
- Theft or Burglary – Your commercial property insurance can also help make you financially whole if your business is affected by a theft or burglary.
- Vandalism – Commercial property insurance helps pay for damage caused by vandalism.
Bundle and Save
By combining policies to save time and money.
Fast Friendly Service
Contact us for phone or email support.
Protection You Can Trust
We work closely with only top rate carriers.
Items Covered Under Commercial Property Insurance
Commercial property insurance policies typically cover your primary commercial building, certain outbuildings, exterior signs, your inventory, your landscaping, office equipment, machinery and computer equipment. It also covers other people’s property if it happens to be on your property at the time the accident or incident occurred.
Local & Family Owned
We are a medium-sized insurance brokerage that was established in 1996. As Independent Agents, we represent you, the CLIENT. Although we write all types of insurance, we specialize in auto and home insurance in the Northwest.
• Integrity • Excellent Service • Quality
Types of Commercial Property Insurance in Spokane
There are two general types of commercial property insurance. As a business owner, you can typically choose from a named perils policy or an open perils policy.
Named Perils
A named perils commercial property insurance policy covers the items named in the policy. When a business gets this type of insurance, it’s very important to read the list of what’s included. Then, think about the risks that your property may face. Are those risks named in the policy? You should do this because if the peril isn’t named in the policy, it’s not covered.
Open Perils
If you want broader protection for your business, you may want to ask about an open perils policy. Open perils policies cover perils that aren’t specifically excluded. To make sure this policy would work for your needs, it’s important to read the list of exclusions. It’s important to note that flood and earthquakes aren’t typically covered, and you’d need separate insurance policies for each of those perils.
How Are Premiums Calculated for Commercial Property Insurance Policies?
The premiums for your commercial property insurance policy will depend on your building’s location. Is your physical location in an area of high or low crime? Is the area prone to natural disasters, like floods or other types of severe weather? Is your business near a fire station or fire hydrants? How was your building constructed? Was it designed and built to be fireproof or resistant to high winds, and lastly, what’s your industry? The answers to these questions will help determine the cost of your policy.
A few questions away from saving up to 40% on your insurance.
What’s Not Covered Under Commercial Property Insurance?
In addition to floods and earthquakes, several other scenarios may not be covered under your commercial property insurance policy. For example, if one of your employees is driving in a company vehicle to a location and gets into a car accident, the resulting damage is not covered by your property insurance. Instead, it would be covered by your commercial car insurance.
Additionally, if your crew is out on a job and your client’s property is damaged at their location, the repair costs or replacement costs are not covered by your property insurance. Instead, you would need to have commercial liability insurance.
Your commercial property insurance also doesn’t cover lost income. If your building and/or equipment is damaged to the point where you cannot conduct business until the repairs are made, you’ll need business interruption insurance.
How to Get Commercial Property Insurance in Spokane, Washington
We can help you get a commercial property insurance policy at Boyd Insurance Brokerage Inc. Our agents can listen to your needs and concerns and find a commercial property insurance policy that fits your budget. We can also help you find additional coverages, like commercial auto, business interruption and liability insurance.
